Governments and companies can reinforce each other in their pursuit of sustainable development, which is based on three pillars: economic, social and environmental. An impact economy, in which governments and companies balance profit and impact, is best placed to achieve the United Nations sustainable development goals.
Emerging economies are fighting COVID-19 and the economic sudden stop imposed by the containment and lockdown policies, in the same way as advanced economies. However, emerging markets also face large and rapid capital outflows as a result of the pandemic. This column argues that credible emerging market central banks could rely on purchases of local currency government bonds to support the needed health and welfare expenditures and fiscal stimulus. In countries with flexible exchange rate regimes and well-anchored inflation expectations, such quantitative easing would help ease financial conditions, while minimising the risks of large depreciations and spiralling inflation.
China’s state capitalist economy poses a challenge to EU openness to foreign investment. In response, the European Commission 17 June published a White Paper on “levelling the playing field with regard to state aid”, contemplating sensible and balanced policies to protect the integrity of the European single market from subsidised foreign acquisitions. However, against the backdrop of collapsing global capital flows and limited existing FDI from China, there is little risk of excessive exposure, indeed a deepening of bilateral investment flows would be beneficial for both economies.
The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.
What effect will brexit have on Europe's financial markets?
Rather than risking its soldiers' lives on the border, India should join 'middle power' economic coalitions to address China's behavior.
This briefing was prepared for the European Parliament’s Committee on International Trade (INTA).
Most governments have taken measures to protect vulnerable workers and firms from the worst effects of the sudden drop in activity related to COVID-19. But as lockdowns are lifted, the focus must shift, and governments in advanced economies must design measures that will limit the pain of adjustment.
Fireside chat with Kristalina Georgieva, Managing Director, International Monetary Fund
This episode provides a background overview of the impact of the reopening of borders on European value chains, future of work, and innovation.
The euro is, by definition an international currency. However, since being established in the late 90s the single currency has always been somewhat less than the sum of it's parts and has yet to challenge the US dollar for global dominance. Its international status declined with the euro crisis of 2008.
The euro never challenged the US dollar, and its international status declined with the euro crisis. Faced with a US administration willing to use its hegemonic currency to extend its domestic policies beyond its borders, Europe is reflecting on how to promote it currency on the global stage to ensure its autonomy. But promoting a more prominent role for the euro is difficult and involves far-reaching changes to the fabric of the monetary union.